Send Money to India from Australia at Best Exchange Rates

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Best Way to Send Money to India from Australia

Sending money overseas through money transferring companies is definitely more beneficial as compared to banks. If we believe the report of the World Bank, then India has officially recorded the highest remittance in the year 2018 when it receives over $79 billion. In this record, Australia also plays a major role because more than 468,800 Indians live in Australia which is approximately 1.9% of the total Australian population. People living there often search for the best way to transfer money to India as they want to send money to their friends and family online or through a bank which also plays a major role in Indian GDP growth.

Therefore on this page, we have compared the “Top 12 money transfer service from Australia to India”.

Please find the list of companies below in a sorted order which are providing the best money transfer services with the highest exchange rates and low fee.

Remit2india is a one of the safest & leading money transfer service provider for sending money from Australia to India for sending amount 500.
Today’s Remit2india exchange rate for sending money from AUD to INR is 48.64
with a $ 0 fee. Based on the Exchange Rate IQ calculations it offers
the Best Value
for your money transfer.
The realized exchange rate after considering the fees is 48.64. The pay in options available are
Bank,
also you can receive money using
Bank,
at multiple Remit2india partner locations.
The transfer time usually range between . For more detailed review of Remit2india
click here

Worldremit is a one of the safest & leading money transfer service provider for sending money from Australia to India for sending amount 500.
Today’s Worldremit exchange rate for sending money from AUD to INR is 48.0998
with a $ 3.99 fee. Based on the Exchange Rate IQ calculations it offers
1.89% less than the best value
for your money transfer.
The realized exchange rate after considering the fees is 47.72. The pay in options available are
Bank,
Creditcard,
Debitcard,
also you can receive money using
Bankdeposit,
at multiple Worldremit partner locations.
The transfer time usually range between 2-3 Days. For more detailed review of Worldremit
click here

Currencyfair is a one of the safest & leading money transfer service provider for sending money from Australia to India for sending amount 500.
Today’s Currencyfair exchange rate for sending money from AUD to INR is 48.6155
with a ₹ 0 fee. Based on the Exchange Rate IQ calculations it offers
0.04% less than the best value
for your money transfer.
The realized exchange rate after considering the fees is 48.62. The pay in options available are
Bank,
also you can receive money using
Bank,
at multiple Currencyfair partner locations.
The transfer time usually range between 1-2 Days. For more detailed review of Currencyfair
click here

Orbitremit is a one of the safest & leading money transfer service provider for sending money from Australia to India for sending amount 500.
Today’s Orbitremit exchange rate for sending money from AUD to INR is 48.46
with a $ 0 fee. Based on the Exchange Rate IQ calculations it offers
0.37% less than the best value
for your money transfer.
The realized exchange rate after considering the fees is 48.46. The pay in options available are
Bank,
also you can receive money using
Bank,
at multiple Orbitremit partner locations.
The transfer time usually range between 1-2 Days. For more detailed review of Orbitremit
click here

Available discounts and offers of Instarem

Use code ERIQ10 and get bonus equivalent to AUD 14 on your first transaction

Instarem is a one of the safest & leading money transfer service provider for sending money from Australia to India for sending amount 500.
Today’s Instarem exchange rate for sending money from AUD to INR is 48.863
with a $ 2.5 fee. Based on the Exchange Rate IQ calculations it offers
0.53% less than the best value
for your money transfer.
The realized exchange rate after considering the fees is 48.38. The pay in options available are
Bank,
also you can receive money using
Bank,
at multiple Instarem partner locations.
The transfer time usually range between 1-2 Days. For more detailed review of Instarem
click here

Remitly is a one of the safest & leading money transfer service provider for sending money from Australia to India for sending amount 500.
Today’s Remitly exchange rate for sending money from AUD to INR is 48.65
with a $ 3.99 fee. Based on the Exchange Rate IQ calculations it offers
0.78% less than the best value
for your money transfer.
The realized exchange rate after considering the fees is 48.26. The pay in options available are
Bank,
also you can receive money using
Bank,
at multiple Remitly partner locations.
The transfer time usually range between . For more detailed review of Remitly
click here

Remitmoney is a one of the safest & leading money transfer service provider for sending money from Australia to India for sending amount 500.
Today’s Remitmoney exchange rate for sending money from AUD to INR is 48.2
with a $ 0 fee. Based on the Exchange Rate IQ calculations it offers
0.9% less than the best value
for your money transfer.
The realized exchange rate after considering the fees is 48.2. The pay in options available are
Bank,
also you can receive money using
Bank,
at multiple Remitmoney partner locations.
The transfer time usually range between Same Day. For more detailed review of Remitmoney
click here

Transferwise is a one of the safest & leading money transfer service provider for sending money from Australia to India for sending amount 500.
Today’s Transferwise exchange rate for sending money from AUD to INR is 48.8341
with a $ 3.41 fee. Based on the Exchange Rate IQ calculations it offers
0.97% less than the best value
for your money transfer.
The realized exchange rate after considering the fees is 48.17. The pay in options available are
Bank,
Creditcard,
Debitcard,
also you can receive money using
Bank,
at multiple Transferwise partner locations.
The transfer time usually range between 3-5 Days. For more detailed review of Transferwise
click here

Icici is a one of the safest & leading money transfer service provider for sending money from Australia to India for sending amount 500.
Today’s Icici exchange rate for sending money from AUD to INR is 48.16
with a $ 0 fee. Based on the Exchange Rate IQ calculations it offers
0.99% less than the best value
for your money transfer.
The realized exchange rate after considering the fees is 48.16. The pay in options available are
Bank,
also you can receive money using
Bank,
Cashcard,
at multiple Icici partner locations.
The transfer time usually range between 2-3 Days. For more detailed review of Icici
click here

Yesremit is a one of the safest & leading money transfer service provider for sending money from Australia to India for sending amount 500.
Today’s Yesremit exchange rate for sending money from AUD to INR is 48.16
with a $ 0 fee. Based on the Exchange Rate IQ calculations it offers
0.99% less than the best value
for your money transfer.
The realized exchange rate after considering the fees is 48.16. The pay in options available are
Bank,
also you can receive money using
Bank,
at multiple Yesremit partner locations.
The transfer time usually range between 2-3 Days. For more detailed review of Yesremit
click here

Quickremit is a one of the safest & leading money transfer service provider for sending money from Australia to India for sending amount 500.
Today’s Quickremit exchange rate for sending money from AUD to INR is 48.62
with a $ 5 fee. Based on the Exchange Rate IQ calculations it offers
1.03% less than the best value
for your money transfer.
The realized exchange rate after considering the fees is 48.14. The pay in options available are
Bank,
also you can receive money using
Bank,
at multiple Quickremit partner locations.
The transfer time usually range between 1-2 Days. For more detailed review of Quickremit
click here

Ofx is a one of the safest & leading money transfer service provider for sending money from Australia to India for sending amount 500.
Today’s Ofx exchange rate for sending money from AUD to INR is 46.8549
with a $ 0 fee. Based on the Exchange Rate IQ calculations it offers
3.68% less than the best value
for your money transfer.
The realized exchange rate after considering the fees is 46.85. The pay in options available are
Bank,
also you can receive money using
Bank,
at multiple Ofx partner locations.
The transfer time usually range between . For more detailed review of Ofx
click here

More Available Options

You can check rates of some more providers that may support your country

World First is a UK-based foreign exchange company. It offers currency exchange and international payments to private clients, corporate and e-Commerce clients in the UK and a number of other countries.

Travelex is a money remittance company which is specially known for providing effective services to travelers across the world. People can transfer money online, use its money card and get currency exchanged at its stores.

For quick money transfer from Australia to India with agent service is Remit2india with exchange
rate 48.64.

Available pay in when sending money from Australia to India
Bank, Creditcard, Debitcard.

Available pay out when sending money from Australia to India
Bank, Bankdeposit, Cashcard.

Other options to transfer money from Australia to India are Xendpay, Worldfirst, Travelex, Moneygram, Remitwisely .

The comparison result was last updated on Sep 15, 2019.

For the latest comparison result of Australia to India, Please visit ExchangeRate IQ regularly.

Top 10 money transfer companies in India from Australia:

There are many companies which are offering their services on Australia to India corridor but only a few are offering their best services. These companies are cost-efficient, offer best rates and are highly secured. These are:

WorldRemit

CurrencyFair

InstaReM

Remitly

TransferWise

YESRemit

Remit2India

RemitMoney

OrbitRemit

OFX

These companies are selected after comparing them to banks, other money transfer companies, their exchange rates, transfer fees, security measures and client satisfaction.

Top Key factors to consider before transferring funds to India

There are multiple companies providing remittance services from the Australia to India, but it is not necessary that it will provide you with the best available services. It is most essential for the sender to take charge and be aware of hidden and transfer fee along with the exchange rates provided by them as well as competitors. So, you should invest your time and explore the best keeping the following factors in mind:

Reliability: You must know that the remittance company whose services you are looking for is reliable and trustworthy. There are many fraud companies come up with their plans which are not licensed and offer minimum fee with the best exchange rates, but your money will not safe with them. The most reliable path of sending funds is through a bank, which imposes higher fee and lower exchange rates.

Plan the Transaction: If you are planning to transfer funds, you should not wait for making the last minute decision or wait for any emergency. When you feel the prices are at their best, you can transfer the funds with minimum transfer fees. This will cost you less and you can make the most from your money.

Customer Service: Having a helping hand at the time of transferring funds is beneficial if in case you face any difficulty. The reputable companies offer best customer support in the event of mishap like delay or non-arrival of funds.

Pros and cons of transfer options to India from Australia

There are multiple ways to transfer money to India which includes bank transfer, online transfers through money transfer companies and cash pick up services. Every transfer mode has its pros and cons which are stated under:

Bank transfer to India:

Pros:

Convenient

Easy to use

Highly secured

Cons:

Slow

Highly expensive

Cash pick up service India:

Pros:

Easily available in most of the districts in India

Very fast

Best in emergency purpose

Cons:

Expensive

Online money transfer companies in India:

Pros:

A most effective way to transfer money

Highly cost-efficient

Provide multiple ways to transfer money

Cons:

Slow compared to cash transfers

FAQ's

How long does an international money transfer to India take?

Most of the money transfer companies take three to five working days, although some of them can also transfer funds in a couple of hours. Money order, cheque and demand draft can even take up to two weeks. For example, CurrencyFair transfers money in 1-2 days, while WorldRemit takes 3-4 days, while Remit Money by Axis Bank offers same day transfer. So, you should always check transaction time with the transferring company before you send your money.

Can I transfer money from Australia to India through my bank?

Yes, most banks offer a wire transfer service, but it is usually more expensive than using the dedicated money transfer websites or remittance companies. You can also use your bank account to make the transfer to the recipient’s bank account in India through WorldRemit, CurrencyFair, TransferWise, OrbitRemit, etc. Besides this, a lot of Indian banks like ICICI, SBI, Axis Bank, Kotak, and YES Bank also offer online remittance services.

What are the multiple ways to transfer money from Australia to India?

One can transfer and receive funds to India in multiple modes including bank transfer, cash pick-up, demand draft transfer, foreign currency cheque, wire transfer, mobile top-up, SOFORT, and online transfer. If you want fast delivery of funds, you can choose wire transfer and cash pick-up services which attract higher fees, while if you have no such emergency to deliver funds, you can easily transfer it through a bank account, which will deliver funds in 3-5 working days.

Different companies have different business models. Some offer zero fees while taking an exchange rate margin, while others ask for an upfront fee. These companies deduct their costs, profits, commissions, and margins from the rates they are offering. Therefore, all companies have different exchange rates.

Can I transfer money from Australia to an account in another name to India?

Yes, most money transfer companies require you to add the details of the receiving party. If you are sending money to India online you will have to add the bank accounts of the receiving party. It could be your NRI/NRO account or someone in your family/friend. Many companies do not allow third-party transfers, so you mostly need your own account.

Are money transfers regulated in Australia?

Yes, all the transfers that take place beyond the borders are regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). They track money coming into - and going out of - the country, to make sure it’s from legitimate sources and is being used legally.

Current Exchange Rate(Mid Market) :- 48.85 INR/AUD

Mid-market Rate is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -

Selling exchange rate - at which sellers are willing to sell a particular currency and

Buying exchange rate - at which buyers are willing to buy a particular currency.

Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.

Details about the exchange rates, fees, transfer time and transfer modes provided on our
website are generic and high level. While we make every effort to keep the information up to
date and correct, we make no warranties of any kind with regards to accuracy or reliability
of the data we present on third party remittance service providers. Only the Terms and
Conditions of the particular remittance service provider are binding. By using the
information on this site you agree to our Terms of Use. If you notice a mistake, please
contact us at [email protected]

About Us

Our mission at Exchange Rate IQ is to bring much needed transparency to international money transfers.